By: Jessica Morris

I write about energy and industrials for City A.M. I'm particularly interested in geopolitics, energy policy and, of course, the ever lively oil markets.

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Weavering hedge fund founder Magnus Peterson convicted in fraud case

January 19, 2015

The chief executive of failed Mayfair hedge fund Weavering was found guilty of a fraud at Southwark crown court today, after his rouge investment fund collapsed swallowing $536m (£354m) of investors' cash in 2009. Magnus Peterson was found guilty of eight courts of fraud, forgery, false accounting, fraudulent trading while being acquitted on eight other charges. [...]
The Imitation Game: Alan Turing’s real-life notebook will go to auction for “$1m”

January 19, 2015

The most ardent fans of last year's blockbuster The Imitation Game will now be able to own a notebook that once belonged to the film's subject Alan Turning – but only is they have $1m (£661m) to spare. The notebook, which likely dates back to 1942, is thought to be from the period of Turing's life which [...]
Ex Tesco-chief Sir Terry Leahy: Supermarket suffered “failure of leadership” under Philip Clarke

January 19, 2015

The man widely credited with turning Tesco into Britain's biggest supermarket chain has criticised his successor, saying there was a "failure of leadership." "People tried very hard to do the right thing, it clearly has not worked," former chief executive Sir Terry Leah said in an interview to be broadcast on the BBC's Panorama programme tonight. "In [...]
Birmingham City calls in Hong Kong police over missing £2.5m

January 19, 2015

Birmingham City's parent club has said it is investigating whether or not a former employee misappropriated £2.5m of funds. Hong-Kong based Birmingham International Holdings said today that it had reported the matter, which relates to an unnamed individual, to the Hong Kong police, who were now investigating. "[The loss] may have a material impact on [...]
Swiss franc crisis: Alpari appoints administrator KPMG

January 19, 2015

West Ham shirt sponsor Alpari said it has appointed big four accountant KPMG as its special administrator. Alpari went into insolvency last week after the Swiss National's Bank's (SNB) shock removal of its currency ceiling, which sent the Swiss franc soaring as much as 40 per cent. The ensuing currency market chaos led to "extreme [...]
Aviva to cut 1,500 jobs in Friends Life takeover

January 19, 2015

Aviva could axe up to 1,500 jobs as part of its £5.1bn acquisition of its rival Friends for Life, a move which would amount to 4.8 per cent of the combined companies' total work force. The FTSE 100 insurer said it is unable to provide specifics until the takeover completes, however it will try to [...]
Tesco share price rises as much as two per cent after Morgan Stanley upgrades it to “overweight”

January 19, 2015

Tesco's share price rose as much as two per cent after its turnaround plan was given the thumbs-up by Morgan Stanley, which upgraded it to "overweight" from "equal weight" this morning. The embattled retailer's ability to improve its profit margins is being underestimated by the market, according to analysts at the investment bank. "We believe [...]
John Laing confirms £130m London IPO

January 19, 2015

Infrastructure investor John Laing has confirmed rumours it's planning to raise £130m through an initial public offering (IPO) on the London Stock Exchange (LSE). If the float takes place soon, the group, which is owned by fund manager Henderson, will be the subject of the first major stock market flotation on the LSE this year. [...]
ECB timeline:

January 18, 2015

Why is Germany worried about peripheral Eurozone countries reneging on their promises to reform. December 2008: EU leaders agree on a €200bn stimulus plan to help boost European growth following the global financial crisis. December 2009: Greece admits that its debts have reached €300bn while prime minister George Papandreou insists the country isn't about to "default on its [...]
Waterford Wedgwood for sale after turnround

January 18, 2015

Historic British crockery and glassware maker Waterford Wedgwood is going to be up for sale, six years after its enormous debt sent it into administration. American private equity firm KPS Capital Partners has appointed investment bank Goldman Sachs to auction WWRD, which owns the Waterford, Wedgwood, Royal Albert and Royal Doulton porcelain and crystal brands. WWRD [...]

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By: Jessica Morris

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